Reebok 2006 Annual Report Download - page 197

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20061) 2005 2004 2003 2002 2001 2000 1999 19982) 1997
Balance Sheet Ratios
Financial leverage 5) 78.9% (20.5%) 43.1% 79.2% 138.5% 165.5% 219.6% 234.0% 357.2% 103.0%
Equity ratio 5) 33.8% 46.7% 34.8% 30.7% 25.4% 24.3% 20.3% 19.0% 14.4% 32.2%
Equity-to-fixed-assets ratio 5) 63.5% 194.0% 110.4% 91.1% 75.4% 77.8% 66.2% 54.9% 40.2% 92.1%
Asset Coverage I 5) 138.7% 284.1% 194.1% 197.6% 196.9% 209.3% 207.7% 183.4% 68.3% 98.4%
Asset Coverage II 5) 102.0% 150.4% 106.3% 108.3% 107.6% 105.9% 101.3% 99.5% 37.0% 47.9%
Fixed asset intensity of investments 53.2% 24.1% 31.6% 33.7% 33.7% 31.2% 30.7% 34.5% 36.0% 35.0%
Current asset intensity of investments 46.8% 75.9% 68.4% 66.3% 66.3% 68.8% 69.3% 65.5% 64.0% 65.0%
Liquidity I 5) 15.8% 92.0% 26.8% 20.8% 5.5% 6.1% 7.7% 5.5% 2.2% 2.3%
Liquidity II 5) 80.4% 148.0% 88.4% 100.8% 99.1% 96.0% 90.4% 88.0% 35.9% 33.9%
Liquidity III 5) 153.7% 219.4% 156.4% 187.4% 185.3% 187.4% 185.0% 171.5% 76.8% 91.1%
Working capital turnover 5) 5.8 2.6 4.4 4.4 4.5 4.1 4.1 4.9 (15.5) 319.0
Return on equity 5) 6) 17.1% 14.3% 20.4% 20.2% 21.1% 20.5% 22.3% 33.5% 44.2% 33.0%
Return on capital employed 5) 6) 17.6% 49.3% 27.5% 22.1% 16.8% 16.7% 17.0% 20.7% 20.5% 35.8%
Data Per Share 7)
Share price at year-end (in €) 37.73 40.00 29.69 22.58 20.58 21.08 16.50 18.64 22.73 29.72
Basic earnings 6) (in €) 2.37 2.05 1.72 1.43 1.26 1.15 1.00 1.26 1.13 1.31
Diluted earnings 6) (in €) 2.25 1.93 1.64 1.43 1.26 1.15 1.00 1.26 1.13 1.31
Price/earnings ratio at year-end 16.8 20.7 18.1 15.8 16.3 18.3 16.5 14.8 20.1 22.7
Market capitalization at year-end (€ in millions) 7,679 8,122 5,446 4,104 3,738 3,823 2,993 3,381 4,123 5,391
Operating cash flow (in €) 8) 3.74 1.88 3.17 3.58 2.94 2.12 (0.06) 1.81 0.66 0.22
Dividend (in €) 0.429) 0.325 0.325 0.25 0.25 0.23 0.23 0.23 0.21 0.21
Dividend payout ratio (in %) 17.7 17.2 18.9 17.5 19.8 20.0 22.9 18.3 18.6 16.1
Number of outstanding shares at year-end (in thousands) 203,537 203,047 183,436 181,816 181,692 181,396 181,396 181,396 181,396 181,396
Employees
Number of employees at year-end 3) 26,376 15,935 14,254 15,686 14,716 13,941 13,362 12,829 12,036 7,993
Personnel expenses 3) (€ in millions) 1,087 706 637 709 758 695 630 580 513 331
1) Including Reebok business segment from February 1, 2006 onwards, excluding Greg Norman wholesale business from December 1, 2006 onwards.
2) Consolidated financial statements for 1998 include the Salomon group for the first time.
3) 2004 and 2005 reflect continuing operations as a result of the divestiture of the Salomon business segment.
4) Operating profit figures prior to 2004 exclude royalty and commission income and goodwill amortization.
5) 2004 and 2003 figures have been restated due to application of IAS 32/IAS 39 and amendment to IAS 19.
6) Includes income from continuing and discontinued operations. In 1998 before special effect of € 369 million for acquired in-process research and development – expensed.
7) Figures adjusted for 1: 4 share split conducted on June 6, 2006.
8) Includes discontinued operations.
9) Subject to Annual General Meeting approval.
Ten-Year Overview